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      07-28-2022, 01:51 AM   #1
jayp98
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Senate Bill Deal Would Expand EV Tax Credits, But No Help For i4 / iX

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This would not be great for i4 or iX reservation holders. Any idea on how long it will be before it passes as a law? Would suck to have waited this long for one and then it becoming 10% more expensive to purchase a month before taking delivery. Also any thoughts on how BMW would handle it?

https://electrek.co/2022/07/27/senat...rm-tesla-tsla/
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      07-28-2022, 04:37 AM   #2
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I suspect BMW will do nothing. So basically SUVs get the tax credit but similarly priced sedans do not. Sounds like congress!
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      07-28-2022, 07:04 AM   #3
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Originally Posted by jayp98 View Post
This would not be great for i4 or iX reservation holders. Any idea on how long it will be before it passes as a law? Would suck to have waited this long for one and then it becoming 10% more expensive to purchase a month before taking delivery. Also any thoughts on how BMW would handle it?

https://electrek.co/2022/07/27/senate-moves-forward-ev-tax-credit-reform-tesla-tsla/
Long way to go on this one, but I'd say you definitely want to get your I4 this year to avoid any chance of missing out. The price cap and adjusted income caps are downers for me so I'm hoping both get changed in negotiations if the bill passes.
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      07-28-2022, 07:10 AM   #4
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Quote:
Originally Posted by falconey View Post
Quote:
Originally Posted by jayp98 View Post
This would not be great for i4 or iX reservation holders. Any idea on how long it will be before it passes as a law? Would suck to have waited this long for one and then it becoming 10% more expensive to purchase a month before taking delivery. Also any thoughts on how BMW would handle it?

https://electrek.co/2022/07/27/senate-moves-forward-ev-tax-credit-reform-tesla-tsla/
Long way to go on this one, but I'd say you definitely want to get your I4 this year to avoid any chance of missing out. The price cap and adjusted income caps are downers for me so I'm hoping both get changed in negotiations if the bill passes.
Mannn… i'm worried about this bill getting passed. I placed my order 2 weeks ago so I don't know if i'll get my car in time before the bill passes… This would be a dealbreaker for me.
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      07-28-2022, 08:08 AM   #5
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Not giving up my ICE no matter the tax credit haha
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      07-28-2022, 08:09 AM   #6
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It's almost as if the US wants everyone to be poor.

Why limit the EV credit based on income?
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      07-28-2022, 08:11 AM   #7
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Wow this really fucks Tesla, and the Germans over. I'm shocked they won't be fighting this. Bmw and Tesla employee a massive amount of people in the US including labor workers. I would think they have a huge amount of sway.
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      07-28-2022, 08:14 AM   #8
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They basically punishing luxury EV car makers. $55k and $80k cap??? Real bad for customers wanting to get into a luxury EV sedan or SUV.
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      07-28-2022, 08:15 AM   #9
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You need to change the post title... "Possible"

This hasn't pass the content of the bill isn't finalized and isn't known.


I doubt it will pass within the current calendar year and note the language is....


In order to get the full credit, the electric vehicle needs to be assembled in North America, the majority of battery components need to come from North America, and contain a certain percentage of minerals from countries with free trade agreements with the US.


Note a large amount of EVs don't qualify...

Also it's at the point of sale...so why not raise the price of EVs by 7500 then they give you a 7500 credit with a net discount of 0.

EVs do no need tax rebates or incentives.

This is a waste of money
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      07-28-2022, 08:17 AM   #10
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Quote:
Originally Posted by aci4 View Post
Mannn… i'm worried about this bill getting passed. I placed my order 2 weeks ago so I don't know if i'll get my car in time before the bill passes… This would be a dealbreaker for me.

You would have zero benefit of this bill...

Read the fine print... Your I4 doesn't qualify to start lol
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      07-28-2022, 08:21 AM   #11
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Quote:
Originally Posted by DocWeatherington View Post
Quote:
Originally Posted by aci4 View Post
Mannn… i'm worried about this bill getting passed. I placed my order 2 weeks ago so I don't know if i'll get my car in time before the bill passes… This would be a dealbreaker for me.

You would have zero benefit of this bill...

Read the fine print... Your I4 doesn't qualify to start
Quote:
Originally Posted by DocWeatherington View Post
Quote:
Originally Posted by aci4 View Post
Mannn… i'm worried about this bill getting passed. I placed my order 2 weeks ago so I don't know if i'll get my car in time before the bill passes… This would be a dealbreaker for me.

You would have zero benefit of this bill...

Read the fine print... Your I4 doesn't qualify to start
Huh?

That's why I'm hoping to get my car before the bill passes? I4 currently qualifies for the $7500 tax incentive lol
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      07-28-2022, 08:25 AM   #12
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Do we think this will apply only after the first 200,000 EVs are sold by a given manufacturer? I figured the current credit will be untouched and these terms apply to extend the credit beyond 200,000 units.
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      07-28-2022, 08:26 AM   #13
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When the average price of a new vehicle, electric, ICE or otherwise is 48k now it's laughable that the sedan cutoff is 55k. Also to cap income on this rather than just offering a floating reduction is dumb. Good they're bringing the credit back I guess though.I live in NJ and they recently passed additional legislation as well.
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      07-28-2022, 08:40 AM   #14
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Quote:
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When the average price of a new vehicle, electric, ICE or otherwise is 48k now it's laughable that the sedan cutoff is 55k. Also to cap income on this rather than just offering a floating reduction is dumb. Good they're bringing the credit back I guess though.I live in NJ and they recently passed additional legislation as well.
What did they pass in NJ? Asking for a friend
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      07-28-2022, 08:43 AM   #15
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iX and i4 are not build in North America, if I'm not mistaken. So, the price cap is moot point.
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      07-28-2022, 09:09 AM   #16
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Huh?

That's why I'm hoping to get my car before the bill passes? I4 currently qualifies for the $7500 tax incentive lol
When these bills pass they normally start at the being of a tax season as it's based upon income. So, I would assume if passed it would not be effective until tax filing in April 24 for 23. You have time as long as long as BMW doesn't reach the cap.

Sorry bad response
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      07-28-2022, 09:18 AM   #17
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Quote:
Originally Posted by DocWeatherington View Post
You need to change the post title... "Possible"

This hasn't pass the content of the bill isn't finalized and isn't known.


I doubt it will pass within the current calendar year and note the language is....


In order to get the full credit, the electric vehicle needs to be assembled in North America, the majority of battery components need to come from North America, and contain a certain percentage of minerals from countries with free trade agreements with the US.


Note a large amount of EVs don't qualify...

Also it's at the point of sale...so why not raise the price of EVs by 7500 then they give you a 7500 credit with a net discount of 0.

EVs do no need tax rebates or incentives.

This is a waste of money
You obviously don't realize the issue. There is already an EV incentive in place and this bill would tweak the qualifications so much so that BMW and pretty much any other foreign manufacturers will not receive any tax credit instead of the 7,500 they receive currently.
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      07-28-2022, 09:25 AM   #18
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No I get the issue... Fully... This bill is garbage

Yes it's i cater to made in America.

To your point, normally when they pass bills it's not retro active.

So on X date it flips so BMW and others would still have time likely at least one year/tax cycle. As if they just said effective tomorrow it would result in legal actions and conflict with the prior law on the books.

I myself don't think there should be any credits past 200k.

As the infrastructure sucks and the fact there is no standard level of charging that all brands must follow.

jayp98
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      07-28-2022, 09:36 AM   #19
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Quote:
Originally Posted by DocWeatherington View Post
No I get the issue... Fully... This bill is garbage

Yes it's i cater to made in America.

To your point, normally when they pass bills it's not retro active.

So on X date it flips so BMW and others would still have time likely at least one year/tax cycle. As if they just said effective tomorrow it would result in legal actions and conflict with the prior law on the books.

I myself don't think there should be any credits past 200k.

As the infrastructure sucks and the fact there is no standard level of charging that all brands must follow.

jayp98
Not great situation here for many buyers.

Without getting into a policy debate, it does seem a bit odd that someone making a million dollars a year could buy a $100k iX and have the federal government subsidize part of the purchase.

However, it's what we've come to expect for EVs so any time the rules change people will be upset.

This bill could go into effect. Will it? Who knows given the current political situation.

If it were enacted, I feel confident it would NOT be for tax year 2022. The best we on here with recent i4 orders can hope is that the effective date will be 2024 tax year and not 2023.

Also I really hope they raise they raise the sedan price cap and align it with the SUV cap. Hard to see why that needs to be different.
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      07-28-2022, 09:38 AM   #20
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Quote:
Originally Posted by Flamesofgold View Post
Quote:
Originally Posted by ArchieV View Post
When the average price of a new vehicle, electric, ICE or otherwise is 48k now it's laughable that the sedan cutoff is 55k. Also to cap income on this rather than just offering a floating reduction is dumb. Good they're bringing the credit back I guess though.I live in NJ and they recently passed additional legislation as well.
What did they pass in NJ? Asking for a friend
Misspoke on the date (they previously passed on 1/7/20) adding a 4K credit. Doesn't appear to be any restrictions to vehicle type or income.
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      07-28-2022, 09:42 AM   #21
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Quote:
Originally Posted by ArchieV View Post
Quote:
Originally Posted by Flamesofgold View Post
Quote:
Originally Posted by ArchieV View Post
When the average price of a new vehicle, electric, ICE or otherwise is 48k now it's laughable that the sedan cutoff is 55k. Also to cap income on this rather than just offering a floating reduction is dumb. Good they're bringing the credit back I guess though.I live in NJ and they recently passed additional legislation as well.
What did they pass in NJ? Asking for a friend
Misspoke on the date (they previously passed on 1/7/20) adding a 4K credit. Doesn't appear to be any restrictions to vehicle type or income.
The one passed in 2020 had no cap and a cash incentive of 5,000 but they since changed it over the last couple years and it is now a $4,000 max incentive with an MSRP cap of 55,000
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      07-28-2022, 09:49 AM   #22
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Quote:
Originally Posted by jayp98 View Post
Quote:
Originally Posted by ArchieV View Post
Quote:
Originally Posted by Flamesofgold View Post
Quote:
Originally Posted by ArchieV View Post
When the average price of a new vehicle, electric, ICE or otherwise is 48k now it's laughable that the sedan cutoff is 55k. Also to cap income on this rather than just offering a floating reduction is dumb. Good they're bringing the credit back I guess though.I live in NJ and they recently passed additional legislation as well.
What did they pass in NJ? Asking for a friend
Misspoke on the date (they previously passed on 1/7/20) adding a 4K credit. Doesn't appear to be any restrictions to vehicle type or income.
The one passed in 2020 had no cap and a cash incentive of 5,000 but they since changed it over the last couple years and it is now a $4,000 max incentive with an MSRP cap of 55,000
I didn't see the MSRP cap. Thanks for clarifying.
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